As a development finance institution supporting the national strategies, since the beginning of this year, China Development Bank (CDB) has been focusing on its main responsibilities and operations based on its functional positioning, taking it as an important approach and enabler for serving the strategy of building China’s strength in science and technology to promote the development of specialized and sophisticated enterprises. It has deepened the bank-government cooperation, strengthened model innovation, and continued to enhance support through development finance. By the end of September 2022, the bank has issued loans of 13.1 billion yuan this year to support the high-quality development of specialized and sophisticated small and medium-sized enterprises (SMEs). It has supported 44 state-level specialized and sophisticated “Little Giant” enterprises and 71 provincial-level specialized, sophisticated SMEs, injecting “flowing water” into the high-quality development of specialized, sophisticated SMEs with development finance.
Vibrant SMEs are an important guarantee for China’s economic resilience, and specialized and sophisticated SMEs are the bellwether of the SME community. CDB has established a special “1+9” system, that is, 1 work plan for special loans and 9 supporting systems and policies, in order to comprehensively improve the capability to provide more targeted financial services. At the same time, the bank has leveraged their strengths in providing financial and intellectual support, promoting the establishment of multi-tiered cooperation mechanisms with local industry and information technology sectors, and granting preferential policies to specialized and sophisticated SMEs to further lower their financing costs and boost their sustainable development. In Beijing, CDB Beijing Branch launched a cooperative financial product in August exclusive for “strengthening industrial chains and consolidating foundation in the capital”, providing relevant enterprises with financial services featuring “low interest rate and subsidy for loans” based on integration of procedures and recognition of standards, to support the capital’s efforts in reinforcing industrial chains and consolidating foundation.
It is a common problem for SMEs to encounter financing difficulties in the seed and start-up stages. CDB focuses on priority areas such as information technology, high-end manufacturing, new energy and new materials, and takes the initiative to meet the diversified financing needs of enterprises. From May to June this year, in accordance with the arrangements of the Office of the Leading Group for Promoting the Development of SMEs under the State Council, CDB organized the SME Service Month, through which it effectively improved the quality and efficiency of financial support for SMEs, especially for specialized and sophisticated ones by implementing an array of measures to solve their difficulties, strengthening multi-level cooperation between government organs, the bank, guarantee agencies and enterprises, and paying visits to enterprises for matchmaking financing services. In Suzhou, in active response to the call of Suzhou City on financial support for smart and digital transformation, CDB Suzhou Branch developed a special product to provide preferential loans for such activities, making joint efforts to reduce the financing cost for enterprises. In Ningbo, as a leading enterprise in the segment of semiconductor packaging materials in China, Kangqiang Electronics has an increasing financing demand for core technology research and development in the process of development. Thus, CDB Ningbo Branch provided financial services to the company, lending 67 million yuan to help it improve its technology.
According to an official of CDB, the bank will be more proactive in promoting enterprises to make innovation based on their actual needs, strengthening their confidence in development, and providing more targeted development-oriented financial services for the high-quality development of specialized and sophisticated SMEs with more effective measures and more efficient solutions.
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